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Feb 25, 2013
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and obama care is not even mandated until 2014. what makes you think that given all the headwinds that we're going to see, just in terms of, you know, regulations and new programs that in 2014 we're going to be in a better position to absorb some of these cuts? i'm worried now we're never going to be in a good position to absorb cuts economically. we may never have any growth. >> i'm more optimistic than that. we've talked about this before, joe. but, i think 2013, in gdp terms, is a transitional year, transitioning from these five years of weakness following all the events of 2008, into a stronger economy, mid 2014, end of 2014 -- >> that's a long transition. >> i think that's the case because of housing, because of energy, because of manufacturing, because of the end of household deleveraging, and i really think we're going to enter into a stronger period. it's not going to be this year. but i think it's coming. >> roger i want to go back to what becky said, which is let's say if you had a week to redo this plan. you still have t
and obama care is not even mandated until 2014. what makes you think that given all the headwinds that we're going to see, just in terms of, you know, regulations and new programs that in 2014 we're going to be in a better position to absorb some of these cuts? i'm worried now we're never going to be in a good position to absorb cuts economically. we may never have any growth. >> i'm more optimistic than that. we've talked about this before, joe. but, i think 2013, in gdp terms, is a...
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Feb 26, 2013
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president obama urging compromise in congress as the deadline for the sequestration looms. meantime, global markets dealing with the uncertainty in europe. former treasury secretary larry summers. good morning, larry. >> good to be with you. >> let's talk sequester first. we can get to italy, but when you think about what's going to happen at the end of the this week, the assumption in the markets is that we're going over. if you listen to the folks in washington, the world is going to come to an end. if you listen to the folks on wall street, it's no big deal. who is right? >> look, the world will still keep turning. but this is a self-inflicted wound from which we have nothing to gain. hundreds of thousands of jobs will be lost if this plays out over a long time period. the most powerful country in the world is canceling military deployment, that its leading military figures think are essential, not because of any fundamental problem, but because of a political squabble. that is not how the greatest country in the world should be governing itself. this should be brought t
president obama urging compromise in congress as the deadline for the sequestration looms. meantime, global markets dealing with the uncertainty in europe. former treasury secretary larry summers. good morning, larry. >> good to be with you. >> let's talk sequester first. we can get to italy, but when you think about what's going to happen at the end of the this week, the assumption in the markets is that we're going over. if you listen to the folks in washington, the world is going...
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Feb 19, 2013
02/13
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says, if we follow president obama's plan, the u.s. in 25 years will be in worse shape than greece is today. >> by the way, stan druckenmiller, he is going to become more publicly vocal. >> is he? >> yes, he is. because he feels strongly that this is just a rape of unborn children. it's -- it's generational theft on an enormous magnitude. i frequently, if i have to give a talk, i ask people, particularly if they're older like i am, i say to them if you had one meal left, and you had your grandchild with you, would you eat it or would you give it to your grandchild? they all say, i'll give it to my grandchild. guess what? they're eating their grandchildren's breakfast, lunch and dinner right now, and they haven't been born yet. this is going to happen. >> right. >> these are -- >> i think these are absolutely great points. i mean, our prior perspective on this has been the periods in when you get big bull markets on stocks, when p/e multiples go to 20, the '50s '80s and nineties, those occurred with stable monetary policy, government sp
says, if we follow president obama's plan, the u.s. in 25 years will be in worse shape than greece is today. >> by the way, stan druckenmiller, he is going to become more publicly vocal. >> is he? >> yes, he is. because he feels strongly that this is just a rape of unborn children. it's -- it's generational theft on an enormous magnitude. i frequently, if i have to give a talk, i ask people, particularly if they're older like i am, i say to them if you had one meal left, and...
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Feb 13, 2013
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we're going to try to hold an obama nominee to a standard that president obama set. you laid it out correctly, that president obama, in the campaign, made a very very big deal out of the unethical immoral business of investing in the cayman islands. so you would expect -- you wouldn't expect him then to appoint somebody that did exactly the same thing that ends up making the president look hypocritical by nominating such a person who did exactly the same thing that they criticized governor romney for. >> being hypocritical in washington, that's certainly not very unique, i don't think, senator, right? i guess it's politics, the political season. i understand fully what you're saying, but you don't really have anything, right? no one is saying he even was a tax evader, just he did some of the same things that raised eyebrows during the election. >> unlike four years ago, we had several nominees from this administration that didn't pay their taxes. some paid their taxes and others withdrew their name. there's no charges against lew for that reason. but i think we do ha
we're going to try to hold an obama nominee to a standard that president obama set. you laid it out correctly, that president obama, in the campaign, made a very very big deal out of the unethical immoral business of investing in the cayman islands. so you would expect -- you wouldn't expect him then to appoint somebody that did exactly the same thing that ends up making the president look hypocritical by nominating such a person who did exactly the same thing that they criticized governor...
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Feb 5, 2013
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president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally interrupted with a major averages suffering their worst one-day loss in a year on monday's trading. the last hour we spoke to goldman's jim o'neil about the prospects of making money in this market. >> i think to sell if you're a medium term player is probably not a smart move. but if you've made all the gains, to take some off the table isn't a crazy idea either. >> joining us now is nouriel roubini, chairman and co-founder of roubini global economics. you're not like a market master, maybe like a market jedi. plus andrew still here from fortune magazine. the one and
president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally...
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Feb 4, 2013
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president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should have put a ring on it ♪ ♪ if you like it then you should have put a ring on it ♪ >> good morning, everybody. i'm becky quick along with andrew ross sorkin. joe kernen is on vacation today so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in the power system triggered an automatic shutdown forcing backup sy
president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should...
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Feb 14, 2013
02/13
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and we got obama care. and obama care, when you look at the complexities in that plan, health care costs are going to go up, they're not going to go down. and you've got temporary workers to deal with. retail has got a hell of a problem. going from 35 hours a week to 30 hours a week for a temporary employee. if you've got 50 employees. you want 49. there's so many complexities in these two things. so my concern about acceleration, is regulatory. warren may have a different view of that. >> interesting thing is i agree with everything jack has said, but it's -- it's i don't come away as pessimistic as he does. but he's absolutely right about, you know, about what's happening with health care, and everything. i don't disagree with a word that he said. that he said. >> and i'm not pessimistic, warren. i'm not pessimistic. i just think we -- we're at a position where we could really take off if we had the right policies. >> yeah. well i -- i -- the interesting thing kind of is that america really is doing bette
and we got obama care. and obama care, when you look at the complexities in that plan, health care costs are going to go up, they're not going to go down. and you've got temporary workers to deal with. retail has got a hell of a problem. going from 35 hours a week to 30 hours a week for a temporary employee. if you've got 50 employees. you want 49. there's so many complexities in these two things. so my concern about acceleration, is regulatory. warren may have a different view of that....
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Feb 20, 2013
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austin didn't mention the obama-care tax or payroll tax or any of that. those are all headwinds, too. >> listen, i think the impasse in washington is just crazy right now. i am absolutely for not having the sequestration. it's just too blunt of an object. >> but the two sides have not been able to -- >> zero. >> no common room -- common ground. >> if you could cut 85 you wanted to cut? >> in a nanosecond. >> do you have 85 you want to cut? >> do i know it off the top of my head. i think you need to still hit the revenue side. you need revenues and spending to be that fly% differential, you have to get there. you need revenues up by 18%. >> do you get that growing or additional taxes? >> i don't want to use the word taxes and i'm not trying to -- i don't think we're talking about tax rates here. there are certainly revenue loopholes we could be closing. >> we're supposed to close those to lower marginal rates. >> but we didn't. >> simpson-bowles we were lowering marginal rates and closing loopholes. now, we raise annual rates and you close loopholes. >> it
austin didn't mention the obama-care tax or payroll tax or any of that. those are all headwinds, too. >> listen, i think the impasse in washington is just crazy right now. i am absolutely for not having the sequestration. it's just too blunt of an object. >> but the two sides have not been able to -- >> zero. >> no common room -- common ground. >> if you could cut 85 you wanted to cut? >> in a nanosecond. >> do you have 85 you want to cut? >> do i...
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Feb 22, 2013
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president obama, holding a white house open data day hack-a-thon. today. joe had a different view of what a hack-a-thon was in the white house. but we'll bring -- >> bringing back gibbs and axelrod, and -- >> colleagues of yours. >> colleagues of yours. okay. we're going to continue on. the administration is inviting developers and tech experts to come share some ideas, hack-a-thons are common in the tech industry with the goal to figuring out creative solutions to problems you may remember facebook engineers celebrated their ipo by having a hack-a-thon. don't worry, jim. >> you got to love the name hack-a-thon, don't you? >> the fed minutes spooked investors on thursday. and our next guest took to twitter to offer his thoughts. joining us right now is bill gross. he is the co-cio founder and managing director at pimco and bill it's great to see you this morning thanks for getting up early with us. >> thank you, becky. i'm wide awake. >> we have been talking about your tweet all morning long. talked a little bit earlier just for anybody who didn't see it.
president obama, holding a white house open data day hack-a-thon. today. joe had a different view of what a hack-a-thon was in the white house. but we'll bring -- >> bringing back gibbs and axelrod, and -- >> colleagues of yours. >> colleagues of yours. okay. we're going to continue on. the administration is inviting developers and tech experts to come share some ideas, hack-a-thons are common in the tech industry with the goal to figuring out creative solutions to problems...
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Feb 15, 2013
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. >> rick, 11,629 people go on food stamps each day. 31 million when obama came in. 47 million now. that's more than the population of spain, 47 million. we all want to help people that are needy. but it's probably not a good idea to create and add to the people that are needy and then feel virtuous about helping them. if policies were able to take -- the 16 million back off food stamps that are on now by giving them jobs, by instituting policies that give them jobs to where they're -- i mean it's so good to feel good on the front end about being virtuous about helping people that are needy but what if you're adding to all the people that are actually in need, steve? >> one statistic that summarizes it, sequester. everybody's talking about the sequester. if "the wall street journal" pointed out, the amount of money we're talking about for one year on the sequester's cuts is one-third of one percent of the 3.6 trillion that we would have if we had a budget. but that's the number. we can't -- one-third of one percent of our budget? oh, my god! if anybody thinks we're going to give tho
. >> rick, 11,629 people go on food stamps each day. 31 million when obama came in. 47 million now. that's more than the population of spain, 47 million. we all want to help people that are needy. but it's probably not a good idea to create and add to the people that are needy and then feel virtuous about helping them. if policies were able to take -- the 16 million back off food stamps that are on now by giving them jobs, by instituting policies that give them jobs to where they're -- i...